ISLAMABAD: The American Business Council (ABC) of Pakistan held the 2nd Annual Environmental, Social, and Governance (ESG) Awards ceremony in Islamabad, said a press release.
These awards commemorate businesses that have made contributions in sustainability and social impact. The winners include PepsiCo (Environment - Response to Climate Change), Coca-Cola Pakistan (Environment - Nature Savior), KFC (Social - No Poverty, No Hunger), VISA (Social - Education, Gender Equality) and McDonald’s (Governance Excellence). With more than 60 member companies that are US-based, ABC’s network contributes about $1 billion in taxes annually and employs over one million Pakistanis.
Speaking at the occasion, Romina Khurshid Alam Coordinator to the Prime Minister for Climate Change said, I’m happy to see enthusiasm for taking climate change mitigation seriously with American businesses investing locally.” She handed out the awards and congratulated the winners.
The ceremony was attended by 100+ leading multinational CEOs, business leaders, government officers, and climate experts including Brooke de Montluzin, Economic Counsellor, US Embassy; Maliha Farooq Ismail, ABC Secretary General; Aisha Sarwari, ABC’s Chair for ESG Committee; the US Agency for International Development (USAID) Senior Partnerships Adviser Kanwal Bokharey; and leadership from Systems Limited; Procter & Gamble Pakistan; Mondelez; McDonald’s; Phillip Morris and ABC Executive committee and general body members.
Highlighting the long-standing partnership between Pakistan and the United States, Brooke de Montluzin said, “Pakistan is the fifth largest country in the world by population. The United States has long been Pakistan’s largest export market, importing more than $5 billion in Pakistani goods in just 2021, far surpassing any other country.”
Senator Sherry Rehman, Chair of the Climate and Environment Caucus of the Senate of Pakistan handed over the awards to the winner. In her address, she highlighted the role that businesses must play to tackle challenges of climate change, water stewardship, gender inclusion in workforce, and innovative solutions for sustainable development in order for Pakistan to offer a more conducive and growth-oriented business environment. She said, “The private sector is most effective when it is working in collaboration with the government. Not just to meet its regulatory standards but also to co-create them to make implementation effective. We must hold everyone along this chain responsible to do better. Climate is a national security subject and should remain so.”
Recharge Pakistan, one of the largest investments in Pakistan’s climate adaptation and mitigation plan was also highlighted at the event. Recharge is a $77.8 million partnership between the Green Climate Fund and the Government of Pakistan with an additional investment and technical support worth $12 million from other partners including The Coca-Cola Foundation, USAID, and WWF-Pakistan.
In a world that is increasingly focused on sustainability and responsible business practices, the concept of Environmental, Social, and Governance (ESG) has gained significant traction. The annual ABC ESG awards have played a significant role in introducing this global best-standard to Pakistan.
Copyright Business Recorder, 2024
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